New Jersey Could Benefit from Online Gambling

January 15, 2013

New Jersey may have to face a whopping $60 million bill for assisting victims of Hurricane Sandy. We believe that changes to online gambling legislation, and the opening up of the New Jersey online casino market, could bring in quite a lot of online gambling tax revenue to help offset this cost.

Currently, online gambling legislation is in discussion in New Jersey, and the state has already approved some changes to the law that will low some online casino site to operate a range of online casino games, and this would include online poker. However, there is still a possibility that these new laws could be vetoed, and this would then see New Jersey miss out on the extra online gambling tax it may have gained had the laws been passed.

The state commissioned a report in 2012, that explored alternative revenue streams, and online gambling was highlighted as a possible new source for gambling tax. Although it now looks as if this new online gambling legislation may not actually make it as a reality, and that it could be stalled. With Nevada already starting to open up the local online casino market, we are surprised that New Jersey is not following head first, and is instead dragging its feet.

In New York, the next state over, the Government has already set its sights on an increased level of online gambling revenue, and is now considering the legalization of online casino sites sometime this year. At a national level, there has been some noise being made about a country wide change to online gambling legislation, but we think that at the end of the day, individual states will be left to themselves to decide upon the actual legal position of online casino sites.

Some, like Nevada, and possibly New York and New Jersey, will no doubt eventually open up the local market, and allow their citizens, and also citizens from across state lines, to enjoy online gambling in a safer, better regulated environment. And of course each individual state will then benefit significantly from a much increased level of gambling tax revenue, one they get around to actually changing the law. We see this as inevitable, despite the still stiff opposition. As local governments struggle to make ends meet, they have to find a way to make more income, and this is a no brainer.

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